Castellani, Massimiliano
[VerfasserIn]
;
Fanelli, Luca
[Sonstige Person, Familie und Körperschaft];
Savioli, Marco
[Sonstige Person, Familie und Körperschaft]
Government Fiscal Efforts vs. Labour Union Strikes. Strategic Substitutes or Complements?
Erschienen in:Quaderni - Working Paper DSE N° 1013
Umfang:
1 Online-Ressource (22 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.2622033
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 23, 2015 erstellt
Beschreibung:
To unveil the strategic interaction between the government and the labour union in a unionised economy, a policy-game model is estimated by cointegrated Vector Autoregressive system using Italian quarterly data (1960-2009) on government budget surplus (fiscal efforts), hours not worked (strikes), unemployment and real wages. The long-run cointegration relationships are interpreted as the players' reaction functions and the long-run equilibrium as the equilibrium of the game. The identification of the long-run cointegration relationships allows indeed to determine if efforts and strikes are strategic complements or strategic substitutes. Finally, speed of long-run adjustment provides insights about the effectiveness of government and labour union strategies